Privatization of a state-owned monopoly can

A) allow governments to capture future producer surplus.
B) allow governments to be more efficient.
C) reduce bribery of government officials.
D) increases chances of reelection for politicians.

A

Economics

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Consider a society consisting of just a farmer and a tailor. The farmer has 10 units of food but no clothing. The tailor has 40 units of clothing but no food. Suppose each has the utility function U = F1/2C1/2

If the price of clothing is always $1, and the food price is currently $3, then we can conclude A) the market is at a competitive equilibrium. B) the price of food will drop towards a competitive equilibrium. C) the price of food will increase towards a competitive equilibrium. D) None of the above.

Economics

Points outside the production possibilities frontier represent

a. unemployment of resources b. inefficient use of resources c. combinations that are attainable only if all resources are used fully and efficiently d. currently unattainable combinations of outputs e. the only currently attainable combinations from which society must choose

Economics